EU PSD – Council adopts anti-abuse clause
In a press release of 27 January 2015, the Council has disclosed its amendments to the EU Parent-Subsidiary Directive (PSD) (2011/96/EU). Objective of the amendments The Council amended the PSD, adding a binding anti-abuse clause to prevent tax avoidance and aggressive tax planning by corporate groups. The aim is to stop the PSD from being misused for tax avoidance and to
Non-application of NID to foreign permanent establishment and real estate
The Belgian tax authorities have recently issued a practice note with regard to the Belgian notional interest deduction (‘NID’) and the possibility for the taxpayer to file a tax claim or request an ex officio tax relief. Companies subject to Belgian (non-resident) corporate income tax may deduct a notional interest reflecting the economic cost of
EC Infringement Procedure
On 16 April the European Commission requested the Netherlands to end the discriminatory tax charge on dividends received on shares held by insurance companies based in another EU Member State or EEA member country
EU FTT: time for the EU-11 to “compromise” and “deliver”?
All eyes were on Wednesday 19 February Franco-German meeting to see if it would provide a catalyst for the EU Financial Transaction Tax (EU FTT). The German and French leaders publicly restated their commitment to lead the way on EU FTT and also offered a self-imposed, concrete timeline for a compromise proposal by May this year.
European Parliament’s draft report to the revised Parent Subsidiary Directive
On 28 January 2014, the European Parliament provided its draft report and draft amendments to the European Commission’s proposal for revision of the Parent-Subsidiary Directive. 1. Background On 25 November 2013, the European Commission has proposed certain amendments to the EU Parent-Subsidiary Directive in order to significantly reduce tax fraud/evasion and aggressive tax planning/base erosion and profit
Belgian savings pension system not in line with EU law
On 23 January 2014, the Court of Justice of the European Union (the Court) issued its decision in Case C‑296/12 Commission v. Kingdom of Belgium. The Court declared that, by introducing and maintaining a tax reduction in respect of contributions paid to a savings pension (savings account or savings insurance) in so far as that reduction
Expected new EU rules on executive pay in public companies. How might they impact Belgian listed companies?
Is Belgium a step ahead of the game? Over the past five years, pay policies in public companies and financial services have been under deep scrutiny. To increase transparency on pay, there has been a shift from mere recommendations to more stringent rules set down in law, especially in the field of financial services. While
The EU FTT: a “non-starter” or “just an issue of how”?
In this Newsflash we take stock of the very latest position on the EU FTT, including what institutions can expect to happen next Background Earlier this month, Christian Noyer, the Head of the French Central Bank, was quoted in an interview with the Financial Times as saying that “the Commission’s proposal [for an EU FTT]
